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VC firm Z47 eyes $150-180 million from portfolio companies stake sale

Economic TimesEconomic Times · 1y ago
VC firm Z47 eyes $150-180 million from portfolio companies stake sale
Medial

- Venture capital fund Z47 is planning to sell some of its stakes in portfolio companies, including Ola, OfBusiness, Razorpay, and Dailyhunt, which could fetch around $150-180 million. - Z47 is exploring the option of a portfolio sale transaction as the demand for secondaries has been increasing among late-stage companies. - The move comes after Matrix Partners India rebranded itself as Z47 and split from its US partnership. - Z47 had recently closed its latest Fund IV at $550 million and may consider raising a new fund next year. - In recent years, there has been a significant increase in private secondary market transactions, driven by the need for venture funds to demonstrate better distributed to paid-in capital (DPI). - With liquidity pressures impacting the Indian VC industry, secondary portfolio sales are being explored as a means to distribute cash to limited partners (LPs) or sponsors in funds.

Decoding Foxtale’s Series C funding round, latest valuation and captable

EntrackrEntrackr · 10m ago
Decoding Foxtale’s Series C funding round, latest valuation and captable
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, recently raised Rs 250 crore (approximately $30 million) in its Series C funding round, led by Japanese beauty products company Kose Corporation with the participation of existing investors—Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners. Entrackr has gone through its regulatory filings to decode details such as round break-up, shareholding, and current valuation. The board at Foxtale has issued 20 equity shares and 18,847 Series C compulsory convertible preference shares at an issue price of 1,32,237 each to raise Rs 250 crore or $30 million. Kose Corporation led the round with an investment of Rs 153 crore (approximately $18 million), followed by Z47 (formerly Matrix Partners India), which contributed Rs 45.95 crore (around $5.4 million). Panthera Growth Partners and Kae Capital, through the Kael Opportunities Fund, pumped in Rs 29.5 crore ($3.5 million) and Rs 21 crore ($2.5 million), respectively. According to Fintrackr’s estimates, the company’s post-money valuation has surged to Rs 1,530 crore (approximately $180 million), nearly doubling from its previous valuation of Rs 795 crore (around $93.5 million). Following the fresh allotment of the Series C round, Z47 (formerly Matrix Partners India) remains the largest external shareholder with a 19.64% stake, followed by Kae Capital at 17.35% and Panthera Growth Partners at 12.62%. New investor Kose Corporation now holds a 10% stake in the company. Founder and CEO of the company, Romita Mazumdar holds a 34.38% stake. Founded in 2021, Foxtale is an affordable skincare brand that develops products specifically formulated for Indian skin types, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on the brand’s official website as well as popular marketplaces including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. For the fiscal year ending FY24, the Mumbai-based D2C brand recorded a nearly six-fold increase in operating revenue to Rs 83 crore from Rs 14 crore in FY23. However, the company also reported a loss of Rs 55 crore during FY24.

Exclusive: D2C brand Aramya parent raises Rs 80 Cr led by Z47 and Accel

EntrackrEntrackr · 18d ago
Exclusive: D2C brand Aramya parent raises Rs 80 Cr led by Z47 and Accel
Medial

DSLR Technologies, which operates an ethnic wear brand Aramya, has raised Rs 80 crore (around $9 million) in its Series A round from existing investors Z47 (Matrix Partners) and Accel India. The board of DSLR Technologies has passed a special resolution to allot 10,928 Series A compulsorily convertible preference shares at an issue price of Rs 73,207 each to raise the said amount, according to regulatory filings accessed by Entrackr from the Registrar of Companies (RoC). Z47 (formerly Matrix Partners India) and Accel India have invested Rs 40 crore each in the round. As per the filings, the company plans to utilise the fresh capital for business expansion, meeting working capital requirements, strengthening its balance sheet, and providing flexibility to support future growth initiatives. Founded by Ankush Goyal, DSLR Technologies operates a direct-to-consumer (D2C) ethnic wear brand, Aramya. The brand focuses on women’s ethnic apparel, blending traditional handcrafted techniques such as block prints, bandhani, and ajrakh with premium fabrics, including pure cotton and linen-cotton. Following the latest investment, both Z47 and Accel India will hold a 20.77% stake each in the firm. According to Entrackr’s estimates, DSLR Tech is valued at around Rs 1,438 crore ($161 million) post-allotment. Z47 and Accel India have been early backers of Aramya and its parent, representing their third investment in the startup. The duo co-led Aramya’s $7 million seed round and later invested $2.24 million in a pre-Series A round in December 2024. Aramya’s parent has scaled rapidly since inception, as reflected in its financials. The company’s operating revenue grew over 13X to Rs 41 crore in the fiscal year ended March 2025 from Rs 3 crore in FY24. During the same period, its losses rose marginally to Rs 10.7 crore.

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